Saivian Ponzi President EJ Dalius buys $16.5 million Miami mansion

Initially headed up John Sheehan, Saivian’s business model was as pure of a Ponzi scheme as they come:

Pay $125 a month, recruit others who did the same and earn up to $3000 a day. That’s it.

Despite operating out of the US, for some reason Saivian didn’t attract the attention of the SEC. At least not publicly.

One possible reason for this is that Saivian primarily targeted Chinese investors.

In mid 2017 Chinese authorities cracked down on the Ponzi scheme and made several arrests.

Saivian’s US ownership and management, such as President Eric James Dalius (also credited as Lead Consultant in promotional videos), remained safely out of reach in the US.

The fallout from the Chinese arrests however proved too much, and Saivian went on to to collapse a few months later in October.

In typical Ponzi fashion, the arrest of local Saivian promoters was re-framed as an attack on the company itself.

As per a message on the Saivian website;

Saivian International Ltd. has determined that, in light of rampant fraud perpetrated against our company and members in Asia, we have no choice but to cease all operations.

To compensate legitimate active members as of July 31, 2017 who spent more on membership than they received in benefits including passes and compensation, at our discretion, we have voluntarily decided to offer refunds.

Those refunds are available to members who receive the designated email that has already begun to be sent out.

Please check your email from our third party processor that is handling all payments and complete their online confidential identification form. This will ensure timely refunds to the qualifying members.

To the best of my knowledge some US investors received refunds to keep people quiet. By and large the majority of Saivian’s investors though, most of whom were from outside the US, lost money.

Not even two months after Saivian collapsed, evidently Dalius was out shopping for a new home.

And apparently nothing but the best would do, with Dalius handing over $16.5 million for a 12,078-square-foot luxury home by developer Felix Cohen (be sure to check out the slideshow in the link above).

“The home’s design blurs the line between indoor and outdoor living and renders the perfect blend of nature, modernity and privacy on the open Bay, while staying close to the thriving heartbeat of South Beach,” the brokers said.

Felix Cohen’s company bought the 20,500-square-foot lot for $8.4 million in 2014.

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